Fidelis Insurance (NYSE:PLGO) Releases Earnings Results, Misses Expectations By $0.54 EPS

Fidelis Insurance (NYSE:PLGO) posted its quarterly earnings data on Wednesday. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.54), Zacks reports. The firm had revenue of $650.00 million during the quarter. Fidelis Insurance had a net margin of 15.94% and a return on equity of 15.03%.

Fidelis Insurance Trading Up 4.2%

Shares of Fidelis Insurance stock traded up $0.96 during trading hours on Friday, reaching $23.71. The stock had a trading volume of 611,381 shares, compared to its average volume of 432,265. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 5.80 and a beta of 0.28. Fidelis Insurance has a 1 year low of $15.94 and a 1 year high of $26.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.70. The business’s 50 day simple moving average is $24.48.

Fidelis Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Monday, September 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, September 14th. This represents a $0.60 annualized dividend and a yield of 2.5%. Fidelis Insurance’s dividend payout ratio is currently 16.04%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Zacks Research cut shares of Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. UBS Group upped their target price on Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Fidelis Insurance in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Citizens Jmp raised their target price on shares of Fidelis Insurance from $28.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Thursday. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.00.

About Fidelis Insurance

Fidelis is a leading global provider of bespoke and specialty insurance and reinsurance products. We believe our differentiated underwriting positions us well to generate strong returns across (re)insurance cycles. Current Fidelis is led by Mr. Daniel Burrows who has more than 35 years of experience in the insurance industry and is supported by a highly experienced management team that manages the operations of Current Fidelis based on our founding principles. Following the Separation Transactions, Current Fidelis is positioned as a global, specialty insurance provider with exclusive right of first access to Fidelis MGU’s underwriting business during the term of the Framework Agreement.